The Cambridge Instant Access Cash ISA
Features & Benefits
- Open with just £1
- This is a Cash ISA
- Instant access – no notice – no penalties savings account
- Maximum subscription each tax year is currently £5,640
- Interest rate guaranteed to be no less than 1% below the Bank of England base rate
- Interest paid annually on 31st December
- Available to UK residents aged 16 or over
- Meets Government’s Stakeholder standards (see below)
Stakeholder
The Government’s Stakeholder status for ISAs provides a benchmark designed to identify straightforward savings products which are simple, clear and fair. Stakeholder status does not guarantee the best performance nor is it necessarily suitable for every saver.
Our Instant Access ISA meets the Government’s Stakeholder standards for cash ISAs.
| Stakeholder standards | Our Instant Access ISA promise | |
| Deposits | Minimum deposit No more than £10 Method of deposit Cash, cheques, direct debits, standing orders and other forms of direct credit |
Minimum deposit £1 Method of deposit Cash, cheques, direct debits, standing orders, transfers and other forms of direct credit |
| Interest | Interest payment Accrues daily and rate paid not less than 1% below the Bank of England base rate Rate changes Interest rate increases must be made within one month of Bank of England rate increases |
Interest payment Accrues daily and the rate paid is guaranteed to be not less than 1% below the Bank of England base rate Rate changes We’ll raise interest rates within one month of Bank of England rate increases |
| Withdrawals | Notice period No more than seven days’ notice needed for withdrawals or transfer Number of withdrawals No restriction on the number of withdrawals |
Notice period No notice required for withdrawal of cleared funds. Transfers take no more than seven days Number of withdrawals No restriction on the number of withdrawals |
Product Summary
| Key Product Information for our Savings Account | |
|---|---|
| Account name | The Cambridge Instant Access ISA |
| Interest rates (AERs) | Interest rates are variable. Current interest rates can be found in the interest rates tab. The interest rate is guaranteed to be not less than 1% below the Bank of England base rate. |
| Tax status | Interest is tax-free and is paid with no tax deducted as long as your account qualifies as an ISA. |
| Conditions for bonus payment | Not applicable. |
| Withdrawal arrangements | This is an instant access account. You can take cleared funds from your account at any time without notice or interest penalty. |
| Access | You may operate your account at any of our local branches, via post and payments can be made into the account over the telephone using a debit card. |
Interest Rates
Current interest rates
|
The Cambridge Instant Access ISA |
|||
|---|---|---|---|
| Minimum investment | Tax free p.a.% | AER % | Stakeholder |
| £1 + | 0.70 | 0.70 | Stakeholder |
| £3,000 + | 1.30 | 1.30 | Stakeholder |
Interest rates are variable.
Interest paid annually on 31st December.
The Cambridge Instant Access Cash ISA pays interest tax-free provided all terms and conditions of the account are met. Tax treatment and rate of interest payable will depend on individual circumstances and may change in the future.
We calculate interest on the balance of your account at the end of each day. You earn interest from the day you pay funds into your account until the day before you withdraw your funds.
When interest rates increase we will advertise the new rates, within three working days of the change, in at least two local newspapers (usually Cambridge News and Weekly News) and by placing notices in our branches. We will also place a notice on our website.
When interest rates reduce, we will personally tell you about it at least 14 days before we make the change if the change is material. Please refer to condition 7.7 of the ‘Terms and Conditions for Savers' for a more detailed explanation.
Previous interest rates
|
The Cambridge Instant Access ISA |
|||
|---|---|---|---|
| Minimum investment | Tax free p.a.% | AER % | Stakeholder |
| £1 + | 0.70 | 0.70 | Stakeholder |
| £3,000 + | 1.30 | 1.30 | Stakeholder |
Terms & Conditions
Please read all the terms and conditions before applying to open an account.
Download Terms and Conditions for Savers
Download Special terms and conditions for Instant Access ISAs
Apply Now
Our Instant Access Cash ISA can be opened via branch, post or telephone. To apply by post you need to download and complete an application form which is available below.
For your own benefit and protection, you should read the "Terms & Conditions for Savers" and the Special terms & conditions for Instant Access ISAs before applying to open the account. If you do not understand any point, please call us on 0845 601 3344 for further information.
Download Terms and Conditions for Savers
Download Special terms and conditions for Instant Access ISAs
To apply by post
Once you have completed your application form please send it with your cheque deposit and proof of identification to the freepost address below. Cheques made payable to the Society must also include the account holders name eg. The Cambridge Building Society, account name.
Customer Contact Centre
Cambridge Building Society
FREEPOST CB357 (No stamp required)
PO Box 232
Cambridge
CB5 8BR
To apply by phone
0845 601 3344
Mon-Fri: 8.30am - 8.30pm
Sat: 9am - 6pm
Sun: 11am - 5pm
We can complete secure payments over the telephone. We can accept payments from the following debit cards:
- Visa
- Visa Electron
- Maestro
- Solo
- V Pay
Verifying your identity
When applying for an account we will need to verify your identity. Please see our Verifying your identity page to check the requirements.
If you have any queries regarding our savings accounts or the account opening process, please do not hesitate to contact us on 0845 601 3344.
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